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June 07, 2024US EMPLOYMENT, MAY 2024 Monthly change (April 2024 vs March 2024, seasonally adjusted)
US non-farm payroll employment increased 272,000 from April to May 2024, rising to 158.5 million persons.
The latest monthly increase of 272,000 in US nonfarm payroll employment was faster than the growth of 165,000 reported for April 2024.
The US unemployment rate was up 0.1 percentage points to 4.0% in May 2024. Although the US unemployment rate has remained at or below 4% throughout 2022 and 2023, there has been a gradual rise since the beginning of 2023.
The US participation rate declined to 62.5% in May 2024. The US participation rate has been rising slowly since 2021, but remains below levels observed prior to the pandemic.
The US employment to population ratio decreased 0.1 percentage points to 60.1% in May 2024. As with the participation rate, the US employment rate has not yet returned to pre-pandemic levels despite gains in the last 2-3 years.
Note: Canadian and US labour force statistics refer to different working-age cohorts.
Sources: U.S. Bureau of Labor Statistics, Current Employment Statistics - CES (National) : U.S. Bureau of Labor Statistics (bls.gov); CPS Home : U.S. Bureau of Labor Statistics (bls.gov); retrieved from FRED at the Federal Reserve Bank at St. Louis. Statistics Canada. Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle
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